Final answer:
The triple bottom line is a sustainability framework that measures a company's performance based on its social, environmental, and economic impact, ensuring low risk, conservation of resources, and a livable world for future generations.
Step-by-step explanation:
The "triple bottom line" is an approach to assessing performance that emphasizes concern for three interconnected elements: social equity, environmental sustainability, and economic prosperity. It is an expanded spectrum of values and criteria for measuring organizational (and societal) success. The triple bottom line encapsulates the idea of sustainability in business practices, whereby businesses consider the impact on society and the environment, alongside their economic performance.
Firstly, it involves low risk by avoiding speculation that could jeopardize future sustainability. Secondly, it encompasses the conservation of resources and the protection of the quality of the earth environment. Lastly, it considers the importance of laying the groundwork for future generations to inherit a livable world.